SIMPLE INTEREST C1

Dikshi deposited the amount of 6000/= in a bank which gives an interest rate of 3% for 4 years. Find the simple interest she got?

Solution

I = ?,  P = 6,000/=, T = 4 years, R = 3%

I  = PRT

      100

I  = 6000 x 3 x 4

            100

I  = 6000 x 3 x 4

            100

I  = 60 x 3 x 4

          

I  = 720/=

Hence the simple interest was Tsh 720/=

TRY THIS……………….

Miral deposited the amount of 8700/= in a bank which gives an interest rate of 3% for 3 years. Find the simple interest she got?